Diageo Buys Out SABMiller Stake In Kenya Breweries For US$225mn

The East African cross-shareholding battle lines drawn up by Diageo and SABMiller in 2002 are being broken down. Initially triggered by Diageo's desire to go down the independent route in Tanzania, which it successfully managed after acquiring Tanzania's second largest beer company Serengeti via its subsidiary East African Breweries Limited (EABL), despite meeting resistance from SABMiller, EABL has now reached an agreement to acquire the outstanding 20% SABMiller stake in its Kenya Breweries (KB) subsidiary for US$225mn (valuing KB at about

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